When most couples think about prenups, they picture dividing property, bank accounts, or maybe even spousal support. But one of the most valuable – and often overlooked – assets in a relationship is retirement savings.
Pensions and registered plans like RRSPs, RRIFs, and TFSAs can be worth hundreds of thousands of dollars over time. Deciding how these assets are treated in a prenup can save both partners stress, conflict, and unexpected financial loss in the future.
This guide explains how pensions and registered plans work in Canada, why they matter in prenups, and what to consider when including them in your agreement.
In Canada, registered plans are government-recognized savings or investment accounts that come with tax advantages. They’re designed to help Canadians save for retirement or other long-term goals.
Here’s a breakdown of the most common ones:
A pension is a retirement plan provided by an employer. There are two main types:
Pensions are often a major marital asset, and they can be subject to division if a relationship ends.
An RRSP allows Canadians to save for retirement with tax-deferred growth. Contributions are tax-deductible, and investment income grows tax-free until withdrawal.
An RRIF is what an RRSP turns into at retirement. It requires regular withdrawals, which are taxable income.
A TFSA allows tax-free growth on investments. Contributions aren’t deductible, but withdrawals aren’t taxed. TFSAs are flexible and can be used for retirement or other financial goals.
Both pensions and RRSPs are retirement tools, but they differ in structure:
Including pensions and registered plans in a prenup is about clarity and fairness. Here’s why it matters:
Retirement savings often become one of the most contested issues in separations. A prenup reduces uncertainty by spelling out how these assets will be treated.
If you’ve built up a pension, RRSP, or TFSA before your relationship, a prenup can protect those premarital assets. Without one, they may be subject to division.
Courts sometimes factor in retirement savings when deciding spousal support. A prenup can set out clear expectations about whether retirement assets are considered part of financial support obligations.
In Canada, pensions are often treated as family property. That means they can be divided between spouses or common-law partners if the relationship ends.
The division rules depend on the province, but generally:
This process can be complicated, and without a prenup, couples often face lengthy negotiations – or even litigation.
A prenup can specify:
By addressing pensions early, couples avoid confusion about what’s marital versus premarital property.
Similar to pensions, RRSPs, RRIFs, and TFSAs can all be addressed in a prenup. Couples can decide:
For example: If one partner uses RRSP funds for a down payment on a shared home, a prenup can clarify how that contribution is credited in case of separation.
Covering pensions and registered plans in your prenup gives you:
Yes. Pensions are often included in prenups to clarify whether they’re separate or shared property, and how they’ll be treated if the relationship ends.
Pensions are employer-based retirement plans, while RRSPs, RRIFs, and TFSAs are personal savings vehicles. Both can be included in prenups.
Yes. A prenup can specify that premarital RRSPs or TFSAs remain separate property, while only contributions made during the relationship are divided.
Pensions and registered plans are some of the most valuable assets Canadians own – and some of the most contested in separations. By including them in your prenup, you protect both your retirement savings and your relationship.
At Jointly, we make it simple and affordable to create a prenup that covers pensions, RRSPs, TFSAs, and more – so you and your partner can move forward with clarity and peace of mind.
👉 Ready to get started? Visit getjointly.ca today to begin your prenup.
Amanda BaronI'm Amanda, one of the founders of Jointly. I've been working as a lawyer in British Columbia for over ten years. I have a deep commitment to access to justice and building stronger, more resilient communities. I’ve always believed that everyone deserves affordable, clear, and accessible legal solutions to navigate life’s big moments.